Oil continues its decline as the dollar strengthens after Trump's victory.
Oil prices are falling due to weak demand in China and the strengthening of the dollar.
According to the news agency Bloomberg, the price of Brent oil is around $72 per barrel, while the price of West Texas Intermediate oil is below $69.
Weak consumer inflation in China and declining wholesale prices are also influencing the decline in oil prices.
The decline in oil prices also indicates a weakening of the short-term supply deficit in the market and weakens its indicators.
Oil traders are analyzing the prospects for global demand in the coming years, taking into account factors such as the strengthening of the dollar and tensions between Israel and Iran.
This week, investors will receive important forecasts from OPEC and other organizations.
In its latest report, OPEC has lowered its forecasts for oil demand.
Read also
- The End of 'Peaceful' Rhetoric: What Putin's New Ultimatum Means for Ukraine and the World
- The Main Intelligence Directorate Reveals Missile and Drone Stocks and Production Rates in the Russian Federation
- Iran's Leader Khamenei Prepared Three Successors in Case of Assassination, NYT
- The British political scientist explained why Putin clings to the war at any cost
- The USA has deployed B-2 stealth bombers to Iran amid tensions with Israel
- MP stated that Minister Chernyshov is awaiting suspicion
